A private enterprise is a legal entity that can operate on the basis of property owned by one or more owners, or itself.
PE is often equated with a private entrepreneur, that is, an individual, but this is not correct. According to legal terminology, a legal entity is an individual entrepreneur, and an individual is an individual entrepreneur.
PE is registered in the same way as LLC, there are no significant differences. There are several stages of the procedure:
But before that, they select the name, location and determine the amount of the authorized capital. If there are several founders, it is necessary to decide how their shares will be distributed. You also need to determine what type of economic activity the enterprise will belong to according to the Classification of Economic Activities.
A private enterprise is registered within 24 hours from the date of transfer of documents to the state registrar. The company will help to open a state of emergency in 6 working days. The term for obtaining a certificate from the fiscal service is not taken into account here. The cost of the service includes translation of documents and opening a bank account.
It should be borne in mind that there are no requirements for the minimum authorized capital, and the management structure is determined by the founder. Due to the fact that the legislation does not sufficiently regulate the activities of the state of emergency, this attracts founders with a wide freedom of action.
Each co-founder has the right to easily sell his share without obligations to other owners. Founders are often attracted by the possibility that they will be liable for debts only in the amount of property transferred during the formation of the authorized capital of the private enterprise.
But in practice this is not always the case. Participants of the state of emergency are liable for debts, including personal capital.
In order to complete the procedure for registering an emergency without consequences, it is better to contact the professionals of Eternity Law International. The company will not only determine the benefits of a state of emergency in a specific case, but will also help to quickly register it.
The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.